These posts are your gateway to our exclusive market alpha, top coins to watch, and latest technical analysis. They also keep our YCC Patrons ahead of the curve.
Here is this week’s alpha, specially curated for you:
Latest Bitcoin price forecast
Top 4 altcoins this week
Market tips of the week
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Latest Bitcoin price forecast
TLDR: Bitcoin has been moving sideways above 100k in the past week. A deeper pullback remains likely which can provide an excellent entry before the rally resumes.
When Bitcoin visited 100k on Thursday, the price entered our buy zone that I mentioned last week (see the chart). The support at 102k remains intact at the time of this post, but I still see weakness on the chart in the short term.
I would not be surprised if Bitcoin drops under 100k and visits mid to low 90k before its rally resumes. Basically, the price has a good chance to enter deep into our buy zone and touch the uptrend line before buyers regain full control.
I think it’s too early to turn bullish right now and it’s best to be prudent with your money as we may get a much better opportunity for an entry later this month.
If you want to accumulate more BTC, placing limit order from 100k to 90k is probably a good bet as the price may be quick to visit that area in the future.
On the altcoin front, the market is getting even harder as there are quite a few signs of weakness across the board. This means if you want to make money, buying and holding is the less profitable trade. More on that next.
Top 4 altcoins this week
The market is in a transition right now. While Bitcoin remains bullish, I think the altcoin market is getting more bearish lately. Let me give you just two examples before we talk about my top altcoins for this week.
Solana
The price broke under the $152 support and confirmed it as a resistance. That basically reinforces its downtrend and the price made a lower high. If you were looking for a reason to be bearish, we just got it. There’s also a lot of air until $130. If SOL starts dropping fast next week, expect contagion across other alts.
BTC Dominance
Do you see any weakness on this chart? Because I don’t see any. Bitcoin remains an outlier and its dominance is making higher highs. It also appears ready to approach the 66% resistance. A break above that makes 70% and beyond likely.
What this means is that altcoins will continue to underperform on average and you want to have Bitcoin exposure. Having said that, what is the alpha?
To make money in this market, you got to short the weakest altcoins and buy the strongest ones. Next, let’s look at my top altcoins that fit this description.
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